- Great Thunder Gold Corp (TSXV: GTG) announced today it has optioned the Northbound gold property, located in Northern Quebec.
- The company has 100% interest in the property in a three-year agreement.
- In the first year the company will pay C$35,000, issue 2 million shares, and complete C$200,000 worth of exploration
- The property lies along the same geological structure which has produced strong high-yield gold results at the near-by Fenelon property owned by The Wallbridge Mining Company
- A Long Wave Infrared survey was taken on the Northbound property and favourable compared with results from the Fenelon project
- The company was quick to point out that these early results do not guarantee the same high yields from Fenelon will be replicated at Northbound
- Great Thunder Gold Corp. (TSXV: GTG) increased today by 28.57%. it is currently valued at C$0.22.
Great Thunder Gold Corp. (TSXV: GTG) has optioned the Northbound gold property in Northern Quebec.
The company can acquire 100% of the 21 mineral claims on the 1,162-hectare property.
Great Thunder has pointed out that the optioned property sits atop a geological body that has become of great significance to the Wallbridge Mining Company Ltd. operations in the surrounding area.
The Wallbridge Mining Company Ltd. have been engaged in a number of exploration projects on their Fenelon property, which have revealed an extension of gold-bearing mineralisation running along the same geological body that stretches through to the optioned Northbound gold property.
In 2019 The Wallbridge Mining Company Ltd. had a lot of success in further exploration of the geological body, stating that it had “significantly expanded the footprint of the Fenelon gold system” with the discovery of further high-grade mineralisation.
During that same year Wallbridge Mining Company (TSE: WM) stock rose 300% in value.
Great Thunder Gold Corp. have performed their own early-stage exploration activities on the Northbound property. A Long Wave InfraRed (LWIR) survey, completed by the optioning body, was taken and compared to surveys of at the Felon property.
The announcement claims that, “while the Fenelon deposit shows a rather muted response under the LWIR, at least one of the key minerals share similar responses at Fenelon and on the Northbound claim block.”
The survey also revealed potential chalcopyrite, quartz and alunite anomalies. These will form the main targets for the initial exploration project throughout the area.
The optioning agreement will give Great Thunder 100% interest in the property. The option is a three-year tiered transaction. In the initial year the company will pay C$35,000, issue 2 million shares, and complete C$200,000 worth of exploration.
The following two years will have year-on-year increases in cash payments and exploration costs in order maintain the option.
Despite the results of the LWIR also stated, “Great Thunder cautions investors coincident LWIR anomalies on both the Northbound property and the Wallbridge Fenelon property are not necessarily indicative of similar mineralization on the Northbound property.”
Great Thunder Gold Corp. (TSXV: GTG) increased today by 28.57%. it is currently valued at C$0.22.